$89,500 has become the concrete wall that Bitcoin couldn't break through, and now we're seeing how the big players are protecting the ground at $84,500. 📉
Family, here's the situation: Bitcoin tried to give us a thrill by rising strongly, but upon reaching $89,500, the selling pressure was too strong and the price bounced down. It's like when you try to climb a ladder and someone puts their foot in your way; you end up going down a few rungs to regain your balance. 🛑 At this moment, the reigning coin is fighting to stay above $86,500, but the market sentiment feels a bit heavy.
What really matters right now is the "support." Imagine that the price is a ball that falls; the support is the floor that prevents it from going down further. That key floor is at $84,500. If Bitcoin breaks that level with strength, we could see a quick drop to $82,500 or even $80,500. 🛡️
But not everything is drama. If buyers (the "bulls") get their act together and we manage to close the day above $87,000, the outlook changes. That is our first goal to regain confidence. If we break $88,000, get ready, because the path to $90,000 opens up again. 🚀 It's a game of patience and watching who has more strength: those who want prices to rise or those who are selling out of fear or profit.
Keeping a cool head is rule number one in these days of such volatility. Technical indicators like the MACD tell us that the downward momentum still has strength, so it's not the time to rest on our laurels. The question is: do buyers have enough strength to defend the current floor or do we need to see lower prices for people to be encouraged to buy again? 🧐$BTC
